Sable Offshore slumped 60.5% to a record low on Monday after the oil producer raised 'substantial doubt' about its ability to continue as a going concern, citing strained liquidity due to sales disruption to its main buyer.Shares of the company…
The Norwegian government's direct ownership stakes in offshore oil and gas licences and infrastructure are valued at a total of 1.41 trillion Norwegian crowns ($150 billion), according to a survey published by the industry ministry on Wednesday…
Norway's Equinor said on Tuesday it has signed an agreement with a Chevron subsidiary to acquire a 17.4% stake in a petroleum exploration licence (PEL 90) in the Orange Basin offshore Namibia.'The transaction marks Equinor's entry into Namibia…
ExxonMobil awarded about $1.1 billion worth of pre-investment contracts for certain upstream equipment for the Rovuma LNG Phase 1 project in Cabo Delgado.The U.S. oil major awarded the contracts on behalf of the so-called Area 4 partners, which…
Chevron said on Monday it had discovered oil and gas condensate at an exploration well in Block 0, offshore Angola, adding to its push to increase production in sub-Saharan Africa through infrastructure-led exploration.Western and southern Africa…
Siemens Energy has been selected by SBM Offshore, a Dutch provider that manages floating oil production platforms, to supply power generation and gas compression systems for Petrobras.The equipment’s will be installed on the floating production…
An ExxonMobil-led joint venture has recovered the billions of dollars it invested to develop a large oilfield in Guyana, its chief financial officer told Reuters, and the South American country will now receive more oil money.Guyana's Stabroek Block…
Apollo Global Management will invest $1.5 billion in Singapore-based Keppel's new private fund that will hold six operational oil rigs, the two companies said on Monday.The deal will help Keppel monetise its non-core assets and unlock capital for re-investment…
Egypt's parliament approved four oil and gas exploration and development agreements on Wednesday, including a North Sinai project involving Franco-British independent producer Perenco.Egypt is looking to bolster domestic energy production that…
Norway's Safe union and employers have agreed to end a labour dispute in the oil service industry which had disrupted offshore drilling operations and reduced the country's petroleum production, industry group Offshore Norway said on Tuesday…
While oil and gas are once again flowing through the Strait of Hormuz, the closure of the vital waterway for over 100 days could prove to be a turning point in global energy markets. The Arab oil embargo of 1973, a similarly disruptive supply shock…
Repsol seeks to expand its projects in Venezuela by incorporating the Horcon oilfield into its portfolio, the Spanish energy producer said on Thursday, having signed agreements with Venezuela's government this week.The company is a key partner…
Greece has approved Chevron's request to take over a 70% stake from Greece's Helleniq Energy in an offshore block southwest of Greece, the Greek energy ministry said on Monday, in a move that further expands the U.S. oil major's presence in the Mediterranean…
Syria has identified an offshore site for its first deep-water oil and gas exploration project with U.S. major Chevron and Qatar’s UCC Holding, the Syrian Petroleum Company said on Monday.The move is part of a broader push by Syria’s new government…